Friday, October 25, 2013

Nationally, the latest home-sales data has sales of existing homes dropping 1.9%.  Actually, this isn't negative news if you are a seller because the slight decrease is due to affordability concerns associated with rising prices.

More importantly, in the data for Atlanta market is the detail that more 50% of the homes purchased in the ATL during September were purchased with cash, no mortgage.  Read between the lines:  The "smart money" is investing in real estate in metro-Atlanta.  Investors seem to believe the market has bottomed out and it's well on its way back up.  Investors are securing what's left of the foreclosure and REO market, and then some.  Soon you'll be renting their houses and not buying your own.  And eventually, in a few years or more, investors will be able to sell their property and realize super-normal returns on their investments.

If you are interested in buying, or if you have been waiting to sell, I think it's time to have a discussion with me as your RE/MAX Realtor.